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Countrywide warns Brexit uncertainty will lead to property slowdown in Q2

Tue, 26th Apr 2016 08:16

(ShareCast News) - Listed real-estate agency Countrywide warned that it expected the housing market to slow down in the second quarter on the back of uncertainty over June's EU referendum.In a trading statement, Countrywide said it had begun 2016 with real momentum as it saw acceleration in transactions on buy to let properties and second homes in response to the introduction of the government's new 3% stamp duty surcharge that became effective from April 1."We expect the housing market to slow in the second quarter post the surge in buy to let activity in the first quarter and reflecting challenges from the political and economic uncertainty in the lead up to the EU referendum in June," the company said.House exchanges across the group were ahead 30% compared to the same period last year when market transactions were depressed by concerns in the run up to the general election in May 2015.That increase enhanced performance across the group and is reflected in the results of both financial services and business-to-business operations.Chief executive Alison Platt said the company was "encouraged by the strong performance delivered in the first quarter and remain on track to pilot our customer focused multi-channel proposition in three brands during the second quarter".Platt also said the referendum would lead to a more circumspect approach in the second quarter."We are mindful of the political and economic uncertainty surrounding the EU referendum we are taking a cautious view of the coming months," she said."Notwithstanding this, however, we continue to expect to make strong progress in 2016 as we execute our strategy and maximise market opportunities and therefore maintain our current financial outlook for the full year".

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London close: UK stocks subdued on US Thanksgiving as resources in focus

(ShareCast News) - UK stocks were in cautious form all day Thursday, with global markets generally subdued as traders in the US put their feet up for a Thanksgiving break. The FTSE 100 closed up 0.17% to 6,829.20. The FTSE 250 ended the session down 0.18% to 17,590.62. On the blue-chip upside, seve

24 Nov 2016 12:00

LONDON MARKET MIDDAY: Countrywide Shares Sold Amid Quiet Market

24 Nov 2016 07:34

Countrywide tumbles to new low on Brexit profit warning

(ShareCast News) - Estate agent Countrywide warned that operating profits will be lower than expected for the full year, due to a "tough" residential market as a result of a change in stamp duty and the EU referendum. The FTSE 250 company said due to reduced transactions in the second half of the ye

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2nd UPDATE: Government Letting Fee Ban Will Drive Up Rents - Savills

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LONDON MARKET MIDDAY: Estate Agents Sold Ahead Of UK Autumn Statement

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Estate agents stung by Chancellor's ban on letting fees

(ShareCast News) - In his Autumn Statement, Chancellor Philip Hammond announced he planned to clamp down on letting agent fees, sending estate agents shares lower on Wednesday. Shares of companies in the sector were sharply lower in early trade, with Foxtons were down 9%, Countrywide losing 5% and L

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Broker tips: Howden Joinery Group, Segro, Countrywide

(ShareCast News) - Howden Joinery Group shares dropped on Tuesday as Berenberg lowered its recommendation on the stock to 'hold' from 'buy' and cut the target price to 450p from 550p. Berenberg said the supplier of kitchens and joinery products is seemingly one of the most exposed companies in its U

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Tuesday broker round-up

(ShareCast News) - Segro: Barclays keeps at overweight with a target price of 520p. Howden Joinery: Berenberg downgrades to hold, 450p target. Standard Chartered: Deutsche Bank reiterates sell with a 574p target. Cobham: UBS reiterates neutral with a 160p target. Cobham: Barclays reiterates equal

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